SEC Filing | NRG Energy, Inc.

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PROSPECTUS SUPPLEMENT

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-123677

Prospectus Supplement No. 1 dated July 1, 2005

(To Prospectus dated June 2, 2005)

NRG Energy, Inc.

420,000 Shares of 4% Convertible Perpetual Preferred Stock

10,500,000 Shares of Common Stock issuable upon conversion of the Preferred Stock

This Prospectus Supplement supplements the prospectus dated June 2, 2005 (the “Prospectus”) of NRG Energy, Inc., relating to the sale by certain of our stockholders (including their pledgees, donees, assignees, transferees, successors and others who later hold any of the selling stockholders’ interests) of up to 420,000 shares of preferred stock, or 10,500,000 shares of our common stock issuable upon conversion of the preferred stock. You should read this Prospectus Supplement in conjunction with the Prospectus, and this Prospectus Supplement is qualified by reference to the Prospectus, except to the extent that the information in this Prospectus Supplement supersedes the information contained in the Prospectus.

Investing in our preferred stock or common stock involves risks that are described in the “Risk Factors” section beginning on page 6 of the Prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this Prospectus Supplement is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this Prospectus Supplement is July 1, 2005

The table of selling stockholders contained in the Prospectus is hereby superseded by the following table:


	Ownership Before				Securities Offered by the				Ownership After Offering(2)
	Offering				Prospectus(1)
													% of
Name	Preferred		Common(3)		Preferred		Common(3)		Preferred		Common		Common(4)

AM International E MAC 63 Ltd.		790		19,750		790		19,750		0		0		0
AM Master Fund I, LP		6,916		172,900		6,916		172,900		0		0		0
BBT Fund, LP		6,750		168,750		6,750		168,750		0		0		0
Boston Income Portfolio c/o Eaton Vance Mgt		1,255		31,375		1,255		31,375		0		0		0
Castlerigg Master Investments Ltd.		500		197,100		500		12,500		0		184,600		*
Citigroup Global Markets Inc.(5)		4,994		124,850		4,994		124,850		0		0		0
City of New York Fire Dept Pension Fund High Yield		200		5,000		200		5,000		0		0		0
City of New York Police Pension Fund High Yield		275		6,875		275		6,875		0		0		0
City of New York Teachers Retirement System High Yield		600		15,000		600		15,000		0		0		0
CNH CA Master Account, LP		5,500		137,500		5,500		137,500		0		0		0
Coastal Convertibles Ltd.		1,500		37,500		1,500		37,500		0		0		0
Concentrated Alpha Partners, LP		6,750		168,750		6,750		168,750		0		0		0
DBAG London		11,000		275,000		11,000		275,000		0		0		0
Delaware Dividend Income Fund, a series of Delaware Group Equity Funds V		1,500		37,500		1,500		37,500		0		0		0
Deutsche Bank Securities Inc.		2,552		63,800		2,552		63,800		0		0		0
Diversified High Yield Bond Portfolio c/o Eaton Vance Mgt		245		6,125		245		6,125		0		0		0
Drawbridge Convertible I Ltd.		489		12,225		489		12,225		0		0		0
Drawbridge Convertible II Ltd.		156		3,900		156		3,900		0		0		0
Drawbridge Global Macro Masterfund Ltd.		3,310		82,750		3,310		82,750		0		0		0
ELCA Unscreened — High Yield		500		12,500		500		12,500		0		0		0
Equitec Group, LLC		500		12,500		500		12,500		0		0		0
Fidelity Financial Trust: Fidelity Strategic Dividend & Income Fund(6)		3,900		97,500		3,900		97,500		0		0		0
Forest Fulcrum Fund LP		1,573		39,325		1,573		39,325		0		0		0
Forest Global Convertible Fund, Ltd., Class A-5		2,860		71,500		2,860		71,500		0		0		0
Forest Multi-Strategy-Maste r Fund SPC, on behalf of its Multi- Strategy Segregated Portfolio		1,817		45,425		1,817		45,425		0		0		0
Frontpoint Convertible Arbitrage Fund, LP		8,000		200,000		8,000		200,000		0		0		0
GLG Market Neutral Fund		22,000		550,000		22,000		550,000		0		0		0
Grace Convertible Arbitrage Fund, Ltd.		7,000		175,000		7,000		175,000		0		0		0
Guggenheim Portfolio Company XXXI, LLC		5,000		125,000		5,000		125,500		0		0		0


	Ownership Before				Securities Offered by the				Ownership After Offering(2)
	Offering				Prospectus(1)
													% of
Name	Preferred		Common(3)		Preferred		Common(3)		Preferred		Common		Common(4)

Hallmark Master Trust High Yield Fund c/o Eaton Vance Mgt		70		1,750		70		1,750		0		0		0
HFR CA Global Opportunity Master Trust		1,484		37,100		1,484		37,100		0		0		0
HFR CA Select Fund		750		18,750		750		18,750		0		0		0
HFR RVA Combined Master Trust		525		13,125		525		13,125		0		0		0
HFR RVA Select Performance Master Trust		252		6,300		252		6,300		0		0		0
High Income Portfolio c/o Eaton Vance Mgt		865		21,625		865		21,625		0		0		0
IAM National Pension Fund		700		17,500		700		17,500		0		0		0
Industriens Pensionsforsikring		300		7,500		300		7,500		0		0		0
ING T. Rowe Price Capital Appreciation Portfolio		12,000		300,000		12,000		300,000		0		0		0
Institutional Benchmarks Master Fund, Ltd.		1,500		37,500		1,500		37,500		0		0		0
Int’l Union of Operating Engineers c/o Eaton Vance Mgt		15		375		15		375		0		0		0
JHVST MidCap Value B		200		52,200		200		5,000		0		47,200		*
JMG Capital Partners, LP		2,350		58,750		2,350		58,750		0		0		0
JMG Triton Offshore, Ltd.		2,850		71,250		2,850		71,250		0		0		0
John Hancock Variable Series Trust I — Mid Cap Value Fund B		200		48,600		200		5,000		0		43,600		*
Kamunting Street Master Fund, Ltd.		23,500		587,500		23,500		587,500		0		0		0
KBC Financial Products USA, Inc.		8,955		223,875		8,955		223,875		0		0		0
KDC Convertible Arbitrage Fund LP		3,000		75,000		3,000		75,000		0		0		0
Laborers District Council & Contractors Pension FD of Ohio		200		41,100		200		5,000		0		36,100		*
LDG Limited		130		3,250		130		3,250		0		0		0
LIJ Invest — Global High Yield		275		6,875		275		6,875		0		0		0
Linden Capital LP		1,628		40,700		1,628		40,700		0		0		0
LLT Limited		852		21,300		852		21,300		0		0		0
Lyxor/ AM Investment Fund Ltd.		988		24,700		988		24,700		0		0		0
Lyxor/ Forest Fund Limited		3,622		90,550		3,622		90,550		0		0		0
Lyxor/ Silverado Fund Ltd.		1,550		38,750		1,550		38,750		0		0		0
McMahan Securities Co. LP		45		1,125		45		1,125		0		0		0
MSS Convertible Arbitrage 1		20		500		20		500		0		0		0
National Bank of Canada		1,186		29,650		1,186		29,650		0		0		0
Newport Alternative Income Fund		2,972		74,300		2,972		74,300		0		0		0
New York City Employees Retirement Systems Enhanced Yield		700		17,500		700		17,500		0		0		0
Pebble Limited Partnership		2,490		62,250		2,490		62,250		0		0		0


	Ownership Before				Securities Offered by the				Ownership After Offering(2)
	Offering				Prospectus(1)
													% of
Name	Preferred		Common(3)		Preferred		Common(3)		Preferred		Common		Common(4)

Penn Series Flexibly Managed Fund		5,600		140,000		5,600		140,000		0		0		0
Penn Series-High Yield Bond Fund		200		5,350		200		5,000		0		350		*
Pensionsinvest — Global High Yield		700		17,500		700		17,500		0		0		0
PFA Invest — Global High Yield		600		15,000		600		15,000		0		0		0
RWDSU Local 338 High Yield Fund c/o Eaton Vance Mgt		20		500		20		500		0		0		0
S.A.C. Arbitrage Fund, LLC		8,000		200,000		8,000		200,000		0		0		0
Sage Capital Management, LLC		3,000		75,000		3,000		75,000		0		0		0
Salomon Brothers Asset Management, Inc.(7)		6,700		167,500		6,700		167,500		0		0		0
SEPTA High Yield Fund c/o Eaton Vance Mgt		20		500		20		500		0		0		0
Severn River Master Fund		1,000		25,000		1,000		25,000		0		0		0
Silverado Arbitrage Trading, Ltd.		500		12,500		500		12,500		0		0		0
Silvercreek II Limited		9,447		236,175		9,447		236,175		0		0		0
Silvercreek Limited Partnership		9,591		239,775		9,591		239,775		0		0		0
Silver Point Capital Fund, LP		1,365		1,042,333		1,365		34,125		0		1,008,208		1.2
Silver Point Capital Offshore Fund, Ltd.		2,135		1,654,740		2,135		53,375		0		1,601,365		1.8
SOCS Ltd.		10,000		250,000		8,000		200,000		2,000		50,000		*
Sphinx Convertible Arbitrage SPC		2,082		52,050		2,082		52,050		0		0		0
Sphinx Fund		140		3,500		140		3,500		0		0		0
SRI Fund, L.P.		1,500		37,500		1,500		37,500		0		0		0
Stanfield Offshore Leveraged Assets Ltd.		10,500		693,213		10,500		262,500		0		430,713		*
Sunrise Partners Limited Partnership		3,372		87,931		3,372		84,300		0		3,631		*
The New America High Income Fund		700		17,500		700		17,500		0		0		0
TQA Master Fund, Ltd.		870		21,750		870		21,750		0		0		0
TQA Master Plus Fund, Ltd.		1,510		37,750		1,510		37,750		0		0		0
T. Rowe Price Capital Appreciation Fund		33,600		840,000		33,600		840,000		0		0		0
T. Rowe Price High Yield Fund		7,550		203,400		7,550		188,750		0		14,650		*
T. Rowe Price Mid-Cap Value Fund		12,000		1,912,500		12,000		300,000		0		1,612,500		1.9
TRP Institutional High Yield Fund		975		26,600		975		24,375		0		2,225		*
TRP Invest — Global High Yield		1,700		42,500		1,700		42,500		0		0		0
TRP SICAV Global High Yield Bond Fund		1,800		47,775		1,800		45,000		0		2,775		*
UBS AG London FBO HFS		5,000		125,000		5,000		125,000		0		0		0
UBS AG London FBO PFEL		18,500		462,500		18,500		462,500		0		0		0
UBS AG London FBO WBCP		7,000		175,000		7,000		175,000		0		0		0
UBS O’Connor LLC F/ B/ O O’Connor Global Convertible Arbitrage Master Ltd.		5,000		125,000		5,000		125,000		0		0		0


	Ownership Before				Securities Offered by the				Ownership After Offering(2)
	Offering				Prospectus(1)
													% of
Name	Preferred		Common(3)		Preferred		Common(3)		Preferred		Common		Common(4)

Volkswagen High Yield Bond Fund c/o Eaton Vance Mgt		10		250		10		250		0		0		0
Whitebox Convertible Arbitrage Partners, LP		26,000		650,000		26,000		650,000		0		0		0
Whitebox Diversified Convertible Arbitrage Partners, LP		5,000		125,000		5,000		125,000		0		0		0
Xavex Convertible Arbitrage 7 Fund		150		3,750		150		3,750		0		0		0
Zazove Convertible Arbitrage Fund, LP		4,000		100,000		4,000		100,000		0		0		0
Zazove Hedged Convertible Fund, LP		2,000		50,000		2,000		50,000		0		0		0
Zurich Institutional Benchmarks Master Fund Ltd. c/o TQA Investors, LLC		180		4,500		180		4,500		0		0		0
Zurich Institutional Benchmarks Master Fund Ltd. c/o Forest Investment Management LLC		2,061		51,525		2,061		51,525		0		0		0


*	Less than 1%.


(1)	Amounts indicated may be in excess of the total amount registered due to sales or transfers exempt from the registration requirements of the Securities Act of 1933, as amended, since the date upon which the selling stockholders provided to us the information regarding their preferred stock.

(2)	The information regarding the beneficial ownership after resale of shares is based on the assumption that each selling stockholder will sell all of the shares of preferred stock and common stock owned by the selling stockholder and covered by the Prospectus.

(3)	Unless otherwise indicated, includes all shares of common stock issuable upon conversion of the preferred stock and assumes a conversion price of $40.00 per share, which is equal to an approximate conversion rate of 25 shares per share of preferred stock. However, this conversion price will be subject to adjustment as described under “Description of the Preferred Stock — Conversion Rights” in the Prospectus. As a result, the number of shares of common stock beneficially owned prior to this offering and the number of shares of common stock offered hereby may increase or decrease in the future.

(4)	Based on 87,047,034 shares of common stock outstanding as of June 30, 2005.

(5)	Citigroup Global Markets Inc. was a co-placement agent on the issuance of the preferred stock.

(6)	The entity is a registered investment fund advised by Fidelity Management & Research Company (“FMR Co.”), a registered investment adviser under the Investment Advisers Act of 1940, as amended. FMR Co., 82 Devonshire Street, Boston, Massachusetts 02190, a wholly-owned subsidiary of FMR Corp. and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, is the beneficial owner of 2,402,699 shares of our outstanding common stock as a result of acting as investment adviser to various investment companies registered under Section 8 of the Investment Company Act of 1940.

(7)	Salomon Brothers Asset Management, Inc. acts as discretionary investment advisor with respect to certain accounts that hold the preferred stock. Accordingly, Salomon Brothers Asset Management, Inc. may be deemed to be the beneficial owner of such preferred stock. Salomon Brothers Asset Management, Inc. is the beneficial owner and, therefore, the Selling Stockholder of the following accounts: General Motors Investment Corp. (5,000 shares), General Motors Broad Mandate (600 shares) and Smith Barney Convertible Fund (1,100 shares).